Silver as an investment

Frontrunning: January 16

  • GE to Take Massive Charge to Shore Up Insurance Reserves (WSJ)
  • GOP Leaders Struggle to Avert Shutdown After Immigration Blow-Up (BBG)
  • DACA Squabbling Imperils Ability to Avert a Shutdown (WSJ)
  • Bitcoin Plunges 20% (WSJ)
  • China Escalates Crackdown on Cryptocurrency Trading (BBG)
  • Wall St. Braces for a Different Year of U.S. Inflation (BBG)
  • Days after Hawaii alert gaffe, Japan issues false alarm about a missile launch (Reuters)
  • Under Trump, the Business World Notches a Net Success (WSJ)
  • Lawmakers urge AT&T to cut ties with Huawei (Reuters)
  • Not just Florida: Tourism big in other states opposing coastal drilling (Reuters)
  • U.S. Warned Jared Kushner on Wendi Deng Murdoch (WSJ)
  • Trust in news media takes a hit during Trump presidency (AP)
  • Sell the New York Times. Now (Politico)
  • Battle Stations: U.S. and China Prepare for Trade Clash of the Titans (WSJ)
  • Platinum Industry Faces a Crisis (WSJ)
  • Saudi Aramco snubs UBS and Bank of America for listing roles (Reuters)
  • Pentagon Plans New Nuclear Weapons (WSJ)
  • Sweden’s Worst Housing Slump Since 2008 Is Ripe for Sanity Check (BBG
  • Spotify Challenges Bankers on IPOs (WSJ)
  • Five Potential Risks to the Oil Rally (WSJ)
  • Uber to introduce mandatory rest breaks for UK drivers (Reuters)

 

Overnight Media Digest

WSJ

– Fiat Chrysler Automobiles NV’s, chief executive said Monday he has no plans to sell its Jeep business or split up the company, cooling speculation but leaving the company’s long-term strategy unclear. on.wsj.com/2rerVDm

– SoftBank Group Corp said Monday it may list shares of its profitable Japanese cellphone operator, a move that could raise nearly $20 billion and help SoftBank make big bets on technology companies. on.wsj.com/2r9T76h

– Apple Inc and Chinese technology giant Tencent Holdings Ltd have settled their tiff over tips, allowing users of Tencent’s popular WeChat messaging app to resume giving monetary gifts to their favorite video-streaming stars and content creators. on.wsj.com/2r9rHNR

– Royal Dutch Shell PLC said Monday it is selling for an undisclosed amount a stake in the West Qurna 1 oil field in Iraq to Japan’s Itochu Corp, giving up on its last oil fields in Iraq. on.wsj.com/2rbw372

– Airbus SE Chief Executive Tom Enders has flatly accused the Trump administration of protectionism, while criticizing rival Boeing Co for exploiting such sentiments. on.wsj.com/2r6dNvI

 

FT

Airbus was prepared to shut down production of its A380 superjumbo aircraft if it does not resolve its stand-off with the Emirates airline over a $15 billion order for the world’s largest passenger jet, according to the company’s outgoing sales chief John Leahy. “If we can’t work out a deal with Emirates, there is no choice but to shut down the programme,” Leahy said.

Royal Dutch Shell Plc said it would redevelop the Penguins field northeast of the Shetland Islands, together with its partner Exxon Mobil Corp, in a project expected to cost more than $1 billion, its first major new project in the ageing basin in six years.

William Hill Plc was considering a sale of its Australian business after the British bookmaker complained that a regulatory crackdown will put pressure on profits in the country. The company said it was “undertaking a strategic review” of its business in Australia, one of the world’s most liberal gambling markets

 

NYT

– Laurence Fink, founder and chief executive of the investment firm BlackRock Inc, is going to inform business leaders that their companies need to do more than make profits – they need to contribute to society as well if they want to receive the support of BlackRock. nyti.ms/2r67EQa

– At the Detroit auto show on Monday, officials of GAC Motor, based in Guangzhou, outlined a broad plan to build up its operations in the United States and begin selling a vehicle here next year, possibly in partnership with Fiat Chrysler Automobiles. nyti.ms/2reGAhY

– A blazing Iranian tanker that sank in the East China Sea, producing a 10-mile-long oil slick, is drawing concern from environmentalists about the threat to sea and bird life in the waterway. nyti.ms/2rdplx8

 

Canada

THE GLOBE AND MAIL
** Canada’s six biggest banks are facing a lawsuit filed with a New York court that alleges they conspired with three other global banking giants to rig a Canadian interest-rate benchmark and boost profits. tgam.ca/2B5pySX

** The British government is scrambling to cope with the collapse of global construction giant Carillion Plc, which has thrown the future of 43,000 jobs worldwide into question, including thousands in Canada. tgam.ca/2B4TLkQ

** The Liberal government is set to introduce carbon-tax legislation that will give breaks to industrial emitters as Ottawa seeks to limit the economic impact of an ambitious environmental agenda to be enacted this year. tgam.ca/2B4TNJu

NATIONAL POST
** A major, government-backed investment in Ontario by Linamar Corp is a “vote of confidence” in Canada’s position in the ongoing North American Free Trade Agreement negotiations, according to the president of the Automotive Parts Manufacturers Association. bit.ly/2B4quqE

** The Bank of Canada is already well into the process of raising interest rates to more normal levels and another increase is expected on Wednesday, after the economy’s stellar performance last year. bit.ly/2B4RHtq

 

Britain

The Times

– Financial Reporting Council warned that it may launch an investigation into KPMG over its audit of Carillion Plc . The company has collapsed into liquidation putting thousands of jobs at risk. bit.ly/2B3UEuh

– The value of the pound has risen above $1.38 for the first time since the Brexit referendum, thanks to a weakening dollar and rising hopes that other European Union members will seek a relatively “soft” Brexit. bit.ly/2B1S4oC

The Guardian

– Silvana Tenreyro, one of the nine members of the monetary policy committee, warned the Brexit uncertainty is deterring companies from investing and hampering Britain’s ability to close its productivity gap with other leading developed countries. bit.ly/2B4n0o5

– A no-deal Brexit would cost the remaining 27 EU nations 112 billion euros ($137.39 billion)in lost economic output, according to research by Oxford Economics. bit.ly/2B5fYzf

The Telegraph

– Turnaround specialist Melrose sketched out its strategy to turn around acquisition target GKN Plc, saying the engineering company lacks “clear focus” and “needs fundamental change”. bit.ly/2B3igyX

– Airbus SE said it would cut the rate at which builds the double-decker jet to just six a year by 2019, from a peak of 27 a few years ago. bit.ly/2B3iJBi

Sky News

– The RAF scrambled two Typhoon jets to intercept Russian planes near the UK’s airspace, the Ministry of Defence (MoD) said. The jets were scrambled from RAF Lossiemouth in Moray, Scotland, on Monday morning. bit.ly/2B3YS59

– Virgin Trains will once again stock copies of the Daily Mail, after a decision to ban sales of the paper on the company’s trains led to accusations of censorship. bit.ly/2B3ZhVd

The Independent

– Vaccitech, a UK company developing a vaccine that would be the first in the world to fight all types of flu has raised 20 million pounds from investors including venture capital arm of Google parent Alphabet Inc, GV.